Global oil and gas contracts reported a quarter-on-quarter decrease in total disclosed value, with $36.48bn in Q3 2025 as compared to $41.22bn in Q2 2025. The number of contracts also reported a decrease from 1,651 in Q2 2025 to 1,386 in Q3 2025. The high-value contracts by Dopet, COOEC, and L&T Energy Hydrocarbon provide little breather to contract activity.
Some notable contracts awarded during Q3 2025 include Dopet and COOEC’s $2bn contract from QatarEnergy for the engineering, procurement, construction, and installation (EPCI) work for the Bul Hanine offshore oilfield expansion project to enhance and stabilise the field's production capacity in Qatar, L&T Energy Hydrocarbon Offshore (LTEH)’s ultra-mega contract defined worth greater than $1.73bn for the EPCI of offshore structures.
Other significant deals include the upgradation of existing facilities in the Middle East, Saipem’s $1.5bn pipeline EPCI contract from Turkish Petroleum Offshore Technology Center (TP-OTC), Technip Energies’ Major EPC contract defined worth up to €1bn ($1.16bn) for LNG export facility in the US, and Samsung Heavy Industries’ $1.04bn LNG carrier construction contracts in South Korea.
Oil and gas industry contracts by scope, Q3 2025
Operation and maintenance (O&M) represented 48% of the total contracts in Q3 2025, followed by procurement scope with 27%, and contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, which accounted for 13%.
The upstream sector reported 1,029 contracts during Q3 2025, followed by the downstream/petrochemical and midstream sectors with 198 and 187 contracts during the quarter.
Asia recorded most of the contracts, with 549 contracts in Q3 2025, followed by Europe and North America with 310 contracts each during the quarter.
Further details of can be found in GlobalData’s new report, Oil and Gas Industry Contracts Review by Sector, Region, Terrain and Top Contractors and Issuers, Q3 2025.
